A team of paraplanners and an expert dissect a case study looking at pensions and divorce.
Learning objectives
In this session we covered….
- Where to start with divorce cases
- The options for dealing with pensions
- Dealing with other assets
- Working out a suitable solution for both parties
- What other financial actions should be looked at
A session dedicated to cash flow modelling. Questions are of all levels are put to the panel as they share how they approach this topic.
Learning objectives
In this session we covered…
- What’s cash flow modelling all about and why you should be doing it
- The benefits for paraplanners
- The benefits for clients
- Best practice and top tips
- Live software demos
Think of this as your Paraplanners Protection Toolkit, perfect for:
Anyone with limited protection experience Anyone who wants to increase their understanding and want to introduce more protection into client plans Anyone who thinks they know it all but wouldn’t mind brushing up a little
Learning objectives
In this session we covered…
- What is protection – a potted history
- Difference between assurance and insurance
- What is a life assurance company?
- What is reassurance company and where do they fit in?
- Who needs protection and why?
- The protection gap Why isn’t protection sold?
- How can paraplanners influence the inclusion of protection in a plan?
- Technical talk – what makes up a typical life policy and some jargon busting
Did you nearly get RSI writing down all the research and analysis tools paraplanners rate in this online assembly? If you missed a few or just couldn’t keep up, you are in luck as we have popped them all down here.
Plus if you missed the actual live event, watch it here to find out more on why we rate these tools and what we find them useful for.
Fund research
- FE Analytics (helpful assemblies on this tool are here and here)
- Trustnet
- Morningstar
- Fundecomarket
- Worthstone (Their next Impact Investment Academy is on Tuesday 16th November 2021 and can be found here)
- Ethical Screening
- DD|hub
Wrapper and product research
- Langcat Platform Analyser
- WrapCompare
- NextWealth Directory
- Synaptic
- Defaqto Engage
- Tax Efficient Review
- MiCap
- iPipleline (Assureweb)
- Iress Exchange
- CI Expert
- Selectapension
- Boring Money
Technical researcH
- Big Tent
- Standard Life Tech Zone
- Prudential
- Old Mutual Wealth
- Royal London
- Techlink
- HMG & HMRC
- ONS
- My Care Consultant
- Law Society IHT Handbook
Financial planning
These are sites to find out general information and do analysis and planning research.
- Prudential Tools & calculators
- Royal London salary sacrifice calculator
- Age UK
- TFP Calculators
- Listentotaxman
- The Salary Calculator
- Reverse Tax Calculator
- State Pension Age Calculator
- ONS Life Expectancy Calculator
- Money Advice Service
- Mortgage Overpayment Calculator
- Royal London rates & Factors
- Just CY calculator
- Invidion
- Vanguard Pension Calculator
- BOE inflation calculator
- Voyant
- Cashcalc
- Moneyscope
- Timeline
Others
Remember, you can watch the show here and if you have any more questions, people are always happy to help on the Big Tent.
If you’re starting out in paraplanning, this is for you. Our experts share their experiences and knowledge to help you work out your next step.
Learning objectives
In this session we covered…
- What’s the hiring market like right now?
- The trends
- The drivers
- What employers are looking for – the importance of both the right skills and right behaviours
- The challenges aspiring paraplanners face
- How you can increase your experience and set yourself up for success
- What’s the best way to approach a potential employer
- What to expect from the job
- What salary to expect
- The support available
In November, Susan Pringle was joined by Dr. Tom Mathar of Aegon UK to explore behavioural science. You can watch the replay. We enjoyed the Online Assembly so much that when the team at Aegon shared an article about the effect of working with clients in an online environment, we thought it would make an interesting follow up.
So…once more, over to Dr. Tom..
The online encounter
Why clients are more comfortable with an online relationship than you may think
Coronavirus forced many of us to move out of our carefully arranged offices into a home environment and made video calls more prevalent. And with that move, advisers and paraplanners are now faced with the challenge of trying to acquire new clients from their own homes.
The physical cues normally used to get messages about themselves and their business across may be lost. Clients, however, will continue to look for these cues that ultimately encourage them to build trust. So, it’s important to carefully think about the messages the background of video calls can convey.
Subliminal messaging works
The norm of reciprocity means clients are more likely to give away something personal (their concerns, requirements, hopes and aspirations) if you share something personal too – either implicitly or explicitly.
In 2020, we asked 2,100 members of the Aegon Feedback Community what should present itself in the background of a video call – most of our respondents said it should be ‘clean’. Although references to achievements and professional background (for example, awards and certificates) are considered acceptable too.
But subconsciously, sharing deeper personal references such as family connections, seems a more powerful way to enter a reciprocal relationship.
Our study also suggests that using references to your personal wealth or social status (for example, exclusive art or interior design) could stop prospective clients from entering a relationship with you[1]. Similarly, blurring the background could also put you at risk of not building an open, trusting relationships with clients. This, however, may differ with the client segments your firm typically serves.
Share and share alike
The TrustedAdvisor’s Trust Equation[2], uses four variables to measure trustworthiness:
- Credibility (which has to do with the words used in client interaction);
- Reliability (which has to do with actions);
- Intimacy (relates to the safety / security we feel when engaging with someone), and
- Self-orientation (refers to your focus and, more specifically, if you seem focussed on the client or yourself).
Of all four, intimacy is considered the most powerful component. Intimacy refers to the sense of security that someone gets when they engage with you. They want to know that everything they share with you will be treated with respect and propriety.
In our report Building trust with prospective clients, we look further into the Trust Equation – how only by giving something will you likely get something back, and by sharing your own hopes, fears and aspirations you will invite the same from your clients – and how this can help to develop a deeper understanding of their financial motivations.
How you and your clients adapt
Pollster Opinium[3] found that the majority of advisers (59%) said that ‘working with clients remotely’ is the main challenge they’re currently facing when adopting to Coronavirus disruption.
Before the pandemic, 84% met their clients in a face-to-face encounter ‘often’ or ‘very often’ and only 7% used video calls. Going forward, 70% assume they’ll meet their clients face-to-face ‘often’ or ‘very often’ – and 38% say they’ll meet clients using a video call.
Opinium’s research also found that clients would now prefer to meet their adviser in a video call after the pandemic, rather than return to face-to-face meetings as they become increasingly more at ease with the idea of an online relationship.
And in our own research, crucially, those who think this are the Career-driven families and Upper Echelons customer segments, who have significantly higher assets than average and are more likely to work with an adviser.
Summary
It’s likely that video calls will continue from now on, so it could be worthwhile thinking about which supportive cues are right for your clients and business’ brand.
And it’s worth noting the variables in the Trust Equation have become much tricker to manage with the move from office to online meetings. In a video call it’s a careful balance between conveying the right levels of intimate messages about yourself without seeming as if you’re pushing your own goals onto your clients. Getting the right blend can have a significant impact on client trust and your business.
You can read more about the research and our findings in our two reports:
Increasing client trust during video calls
Building trust with prospective clients
[1] Aegon Feedback Community, 2,100 respondents, 2020
[2] trustedadvisor.com, the Trust Equation, 2020
[3] Understanding the impact of Coronavirus on the investment landscape. Opinium, 2020.
Thank you Dr. Tom and Aegon UK. 👍
We like a collaboration, and that’s exactly what we’re doing with Aegon where we’ll cover tax topics in these video shorts. Think tax topics cut into easily bitesize videos that you can watch on the go.
Whizzing us through the tax topics is Elaine Cruickshank.

Elaine is a qualified account and member of STEP. She is Tax and Trusts Manager in the Aegon retail sales team and has been with Aegon for 17 years. She provides tax and trusts support to the Aegon retail and protection sales teams and advisers. She is Aegon’s tax and trusts spokesperson – writing articles, delivering webinars and presenting at seminars.
There’s five videos to dive into covering:
- Capital losses
- Taking money from a bond
- Shares and capital gains tax
- Scottish rate of income tax
- IHT planning
So, don’t delay, get watching and if you find these useful let us know and we will make some more.
So what can you expect from a technical short?
Here’s Richard to explain what you can expect from this series.
Capital losses with aegon
Taking money from a bond
Shares and capital gains tax
Scottish rate of income tax
IHT planning
Understand the importance of behavioural science within paraplanning.
Learning Objectives
In this session we covered…
- Influencing advisers
- Applying behavioural principles in client communication
- The EAST framework
- Why picturing their future self tells you more about a client than their income
- Building trust
- The power of ‘pre-suasion’
- Self behaviour tips for dealing with stress
Take a deep dive into the lifetime handling of a bond
Learning objectives
In this session we covered…
- Dealing with an estate
- What tax is due on a bond and who pays it?
- Succession planning
- How a Discounted Gift Trust can be used
- Single life or joint life?
- Using a Loan Trust
- What about the grandchildren?
Looking at how you build and manage your SRI/ESG strategy
Learning objectives
In this session we covered…
- Chargeable event regime
- The power of gross roll up
- Top slicing – basic and advanced
- Update on the Silver case with worked examples
- Bonds vs GIA